The December futures contract on the CSI 300 Index gained 0.7 percent to 3,706.40 as of 9:17 a.m. local time. PetroChina, the biggest energy producer, will sell its stake in a pipeline company for as much as 15.5 billion yuan ($ 2.4 billion), while Aluminum Corp. of China, known as Chalco, plan to sell a stake in a Shanxi unit for at least 2.4 billion yuan.

The Shanghai Composite Index climbed 0.9 percent to 3,647.93 on Wednesday, the highest close in two weeks. The gauge has rebounded 25 percent from its August low, after tumbling 43 percent from its June peak. It’s valued at 19 times reported earnings, compare with the five-year average of 13.4, according to data compiled by Bloomberg.

Chinaâ€™s benchmark stock index rose to the highest level since November 2010 as Aluminum Corp. of China Ltd. led a rally for metal companies on an asset restructuring plan and transport shares surged on lower oil prices.

Chalco, as Aluminum Corp. is known, jumped 10 percent on a plan to dispose of non-core assets. Air China Ltd. and China Shipping Development Co. both gained by the daily limit after crude slid to a five-year low. BYD Co. rebounded 17 percent in Hong Kong after the electric carmaker said it confirmed with shareholder Berkshire Hathaway Inc. that it has no intention to cut its stake. Technology and small-company stocks slid as money-market rates rose on the biggest new share sales in 2014.

The Shanghai Composite Index gained 1.7 percent to 3,108.60 at the close, extending this weekâ€™s advance to 5.8 percent. China, the largest crude oil importer globally, will benefit as every one percent drop in oil prices means $ 2.2 billion in savings and a boost in total net profit by 0.2 percent, Citigroup Inc. said in a report last month.